BusinessWorld E-paper
October 19, 2022
A SUSTAINED “inflation shock” could cut the Philippines’ gross domestic product (GDP) by 0.6% in 2023, National Economic and Development Authority (NEDA) and Socioeconomic Planning Secretary Arsenio M. Balisacan said on Tuesday.
“We are particularly concerned about higher inflation. Our analysis shows that sustained increases in inflation in 2022 and 2023 will cause a slowdown in our economic growth, translating into a GDP level lower by 0.6% in 2023 than its expected level had there been
no sustained inflation shock,” he told a televised press briefing in Malacañang.
